Fiscal cliff deal could be on the horizon

President Barack Obama met with Congressional leaders Friday to talk about a deal.

The president spoke to reporters after the meeting.

Obama said the Senate majority and minority leaders are currently involved in deal discussions, but the president stressed if that deal does not pass, Congress should vote on a basic package to preserve tax cuts for middle class Americans.

Senate leaders say they hope to reach a compromise that could be presented to lawmakers by Sunday. That would be just a little more than 24 hours before the deadline.